Most consumers employ clips for securing documents. A traditional clip has a substantially triangular cross sectional shape and includes an upper surface, a lower surface and a connecting surface. Actuating arms are provided on the upper surface and the lower surface of the clip for opening the clip by a user. Consequently, apart from securing documents, the user may not be able to utilize the clip for performing any other function. Moreover, during circumstances in which it is required to program an expiry date of a document, the user may be unable to do so. Consequently, the user may not be able to exploit a utility value of the clip in a best possible manner. Therefore, there exists a need for a clip with an electronic receiver and display panel that would enable the user to interactively use the clip for performing a number of electronic functions, as well as for securing documents.